Dropbox (NASDAQ:DBX – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01, Briefing.com reports. The business had revenue of $572.70 million for the quarter, compared to the consensus estimate of $571.27 million. Dropbox had a net margin of 15.19% and a negative return on equity of 112.42%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share.
Dropbox Stock Down 1.8 %
Shares of Dropbox stock traded down $0.44 on Friday, hitting $23.55. The stock had a trading volume of 3,416,125 shares, compared to its average volume of 2,346,523. Dropbox has a one year low of $19.07 and a one year high of $33.00. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 26.46 and a beta of 0.84. The stock’s 50-day simple moving average is $22.06 and its two-hundred day simple moving average is $22.35.
Insider Buying and Selling
In related news, insider Bart Volkmer sold 11,270 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $20.36, for a total value of $229,457.20. Following the completion of the sale, the insider now owns 353,143 shares of the company’s stock, valued at $7,189,991.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dropbox news, President Timothy H. Young sold 15,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $22.68, for a total transaction of $340,200.00. Following the completion of the transaction, the president now owns 1,617,257 shares of the company’s stock, valued at $36,679,388.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bart Volkmer sold 11,270 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $20.36, for a total value of $229,457.20. Following the transaction, the insider now directly owns 353,143 shares of the company’s stock, valued at approximately $7,189,991.48. The disclosure for this sale can be found here. Insiders sold 96,086 shares of company stock valued at $2,055,883 over the last quarter. 25.05% of the stock is owned by company insiders.
Hedge Funds Weigh In On Dropbox
Analysts Set New Price Targets
Separately, Jefferies Financial Group lowered their price target on shares of Dropbox from $35.00 to $30.00 in a report on Monday, May 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.75.
Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers the following products: Dropbox Basic, Dropbox Plus, Dropbox Professional, and Dropbox Business. The Dropbox Basic is the simple, powerful home for photos, videos, documents, and other files.
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